1955-951rRESOLUTION N0. 951
RESOLUTIONd LEVYING TAXES FOR IMPROVEMENT BONDS OF
1955 DEBT REDEM~fION FUND, AND FOR IP~.'ROVEI~NT
BONDS OF 1954., SERIES B. DEBT REDII~TTOV FUND.
BE IT RESOLVED, by the Village Council of the Village of Richfield as
follows
1. It is hereby determined that the village at large shall pay the follow-
ing amounts as its share of the cost of the following improvementso
V. P. 239 ~ 9,24,2.4.0
v. P. 250 39,Ob4.78
V. P. 31b 2,332.43
2. Because the improvements listed in paragraph "1" above were financed by
the issuance of Improvement Bonds of 1955 it is hereby determined to levy an ad valor-
em tax to pay the village share of the principal and interest obligation on said bonds.
The levy for the first year shall be 50~ in excess of the amount necessary to pay
principal and interest for one year, to permit the repayment of the village share
of interest charges on said bond issue which will have been advanced prior to collec-
tion of the first year's levy.
3. To give effect to paragraphs "1" and "2" above there is hereby levied
upon all the taxable property in the village a direct, annual, irrepealable, ad valorem
tax which shall be spread upon the tax rolls and collected with and as a part of the
other general property taxes in the village in the years and amounts as follows:
Year____levied L w
Year Levied L. ev'
1955 ~g64.00.00 1965 r~3G,20.00
1956 41$5.00 1966 33zo.oo
1957 4100.00 1967 3230.00
1958 4.010.00 1968 3150.00
1959 3925.00 1969 3060.00
1960 3840.00 1870 2875.00
1961 3750.00 1971 2890.00
19h2 3665.00 1972 2800.00
1863 3580.00 1973 2715.00
1964. 3490.00 1974 2630.00
4.. It is hereby determined that the village at large shall pay the following
amounts as ~.ts share of the cost of the following improvements
Village Project No. 164 w 675_.20
Village Project No. lg4 2,322.99
Village Project No. 225 11,496.39
Village Project N~o. 235 10,806.93.
Village Project No. 261 437.21
Village Project No. 281 15,968.30
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5. Because the improvements listed in paragraph "~." above, other than
Village Pro3ect IJo. 261, were financed. by the issuance of Improvement Bonds of
1954, Series B it is hereby determined to levy an ad valorem tax to pay the vil
lags share of the principal and interest obligation on said bonds. The levy for
the first year shall be 70~ in excess of the amount necessary to pay principal
and interest for one year, to permit the repayment of the village share of inter-
est charges on said bond issue which tai11 have been advanced prior to the collec-
tion of the first year's levy.
6. V.P. 261 not having been financed by the issuance of bonds, the vil-
lage finance officer is hereby authorized and directed to transfer a sum equal to
the cost of said improvement, i. e. ,r546.4.g from the contingency appropriation of
the General Fund to the 1954 Street Construction Fund:
7. To pay the village share of the cost of said V.P. 261 it is hereby
determined to levy an ad valorem tax for the entire amount, payable in 1956. Upon
receipt of the proceeds of the tax levies payable in 1856 the village finance of-
ficer is authorized and directed to reimburse the general fund, out of such pro-
ceeds, the sum advanced under paragraph "6" above. ~lOg.25 shall be paid from the
proceeds of special assessments, and X4.37.21 shall be paid from the proceeds of the
ad valorem tax levy.
S. To give. effect to paragraphs "4.", "5" and "7" above there is hereby
levied-upon all the taxable property ia1 the village a direct, annual, irrepealable,
ad valorem tax which shall be spread upon the tax rolls and collected with and as a
part of the other general property taxes in the village in the gears and amounts as
follows:
Year levied Lew Year levied L~
1855 $6475.00 1965 X2930.00
1956 3b10.00 1966 2550.00
1957 3535.00 1967 2775.00
1955 3460.00 1965 2700.00
1959 3385.00 1969 2b25.00
1960 3310.00 1970 2550.00
1961 3230.00 1871 24.75.00
1962 3155.00 1972 ~ 2395.E
lgb3 3050.00 1973 2320.00
lgb4 3005.00
g. The proceeds from the tax levies made in paragraph "3" above shall be
credited to the Improvement Bonds of 1955 Debt Redemption Fund9 and the proceeds from
the tax levies made in paragraph °5" above shall be credited to .the Improvement Bonds
of 1954, Series B, Debt Redemption Fund, except as provided in paragraph "7" above.
10. The Village Clerk is hereby authorized and directed to file a certified
copy of this resolution with the county auditor of Hennepin County.
Passed by the Council this 3d day of October, 1955.
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9.TTEST : ~ "~~~~
Fred
,~ _ ., Paul H. Ha n, Clerk